capitalism

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Capitalism

The economic system in which the means of production is privately held. In capitalism, the most important means of production is money rather than land (as in feudalism) or labor (as in socialism). That is, the ability to raise and use money for the production of goods and services is more important than owning the land from which goods come, or the ability to work in order to create a good or service. As a result, government policies generally target the regulation (or not) of money and its uses rather than those of property and/or labor. While capitalism is often associated with laissez-faire policies, governments often involve themselves in capitalist countries. The appropriate amount of government intervention in a capitalist system remains hotly debated.

capitalism

see PRIVATE-ENTERPRISE ECONOMY
References in periodicals archive ?
But instead of arguing theoretically about the mechanisms of economic fluctuations, we aim to show that the developed world (especially Western Europe and the US) are not even close to pure capitalist systems.
Practically, these callings tell us to refuse usury, work for the common good, limit the reach of market forces, and reform other elements of the capitalist system (191).
This of course is not just an economic problem for the capitalist system but also means a huge political issue.
In Chapter 2, the author presents the simultaneous mechanisms of inclusion and exclusion involved in the capitalist system that might be traceable in archaeological records.
I ACCEPT that in the capitalist system we live in, the price of anything is determined by its supply, the demand for it and whatever competition it faces.
Societies that adopted the capitalist system gained unrivaled prosperity, enjoyed widespread job satisfaction, obtained productivity growth that was the marvel of the world and ended mass privation.
Chapters argue for the alternative: an establishment of laissez-faire capitalism, and considers the moral superiority of a capitalist system based on individual rights and less government involvement in social affairs.
He also noted that, "The best way to destroy the capitalist system is to debauch the currency.
I regret about the capitalist system, if you want to go to history lessons perhaps I need to go back to Karl Marx and Engels and we could have a discussion about those issues.
I FIND it incredible that, at a time of financial crisis caused by the corrupt capitalist system and the poorest and most vulnerable in society under attack from the Tories, reader James Borland thinks we should invest in a yacht for the Queen, who has sponged millions off us.
He told a Kermanshah rally: "Ultimately, it (the protest) will grow and will bring down the capitalist system and the West".
Ultimately, it will grow so that it will bring down the capitalist system and the West.